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Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
The Central Goods and Services Tax (CGST) Authority accepted the petitioner's voluntary application for cancellation of registration with effect from 8th May 2023. However, the subsequent orders revoking the registration cancellation were passed contrary to the principles of natural justice. Consequently, all proceedings initiated thereafter were quashed. The petitioner's conduct of overlooking the show cause notice was not approved. To balance interests, the petitioner will be restrained from utilizing the Input Tax Credit (ITC) for a reasonable period during which the respondents must conclude proceedings. The orders dated 20th February 2024, 8th March 2024, and 9th May 2024 were quashed, restoring the position as of 8th May 2023, the date of acceptance of the petitioner's application for registration cancellation. The petition was disposed of accordingly.
The Central Goods and Services Tax (CGST) Authority accepted the petitioner's voluntary application for cancellation of registration with effect from 8th May 2023. However, the subsequent orders revoking the registration cancellation were passed contrary to the principles of natural justice. Consequently, all proceedings initiated thereafter were quashed. The petitioner's conduct of overlooking the show cause notice was not approved. To balance interests, the petitioner will be restrained from utilizing the Input Tax Credit (ITC) for a reasonable period during which the respondents must conclude proceedings. The orders dated 20th February 2024, 8th March 2024, and 9th May 2024 were quashed, restoring the position as of 8th May 2023, the date of acceptance of the petitioner's application for registration cancellation. The petition was disposed of accordingly.
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